Capitaland Ascendas Reit · SGX:A17U
Capitaland Ascendas Reit — Ascendas Real Estate Investment Trust — Shareholder Meeting (June 2011)
10 slides from Capitaland Ascendas Reit's shareholder meeting presentation, Jun 28, 2011
Slide 1: Extraordinary General Meeting: Proposed Performance Fee Supplement to Trust Deed
Business & Light Industrial Warehouse Science Park Retail Facilities Logistics and Hi-Tech Industrial Distribution Extraordinary General Meeting Proposed Performance Fee Supplement to Trust Deed (Extraordinary Resolution) Managed by Ascendas Funds Management (S) Ltd.. 53
Slide 2: Basis of Determining Performance Fees
Basis of Determining Performance Fees • Performance fee payable to the Manager is linked to A-REIT achieving a minimum DPU growth • A-REIT is one of the few REITs in Singapore whose performance fees is linked to DPU growth • Performance fees calculated as follows : (i) 0.1% p.a. of Total Assets if D
Slide 3: Proposed Performance Fee Supplement
Proposed Performance Fee Supplement Current Proposed Performance Fee Arrangement Performance Fee Supplement 0.1% p.a. of Total Assets if DPU growth NO Change (before accounting for performance fee) over previous year is at least 2.5% but less than 5.0% 0.2% p.a. of Total Assets if DPU growth NO Chan
Slide 4: Rationale of Proposed Performance Fee Supplement
Rationale of Proposed Performance Fee Supplement • With A-REIT’s portfolio at a significant size and is in steady state, the Manager may explore capital recycling to manage the capital structure & optimise returns on A-REIT’s portfolio • Any divestment of properties will target to : (i) capture capi
Slide 5: Illustration of Proposed Performance Fee Supplement to the Trust Deed
Illustration of Proposed Performance Fee Supplement to the Trust Deed 15.2 cents 15.5 cents S$54.2 mil S$9.7 mil 14 cents 3 cents 13 cents 2 cents 12 cents 2 cents S$26.1 mil DPU ( Extraordinary Income) 13.5 DPU (Ordinary Income) 12 cents 12 cents 12.2 13 cents cents cents Year 1 Year 2 Year 3 Year
Slide 6: Benefits of Proposed Performance Fee Supplement to Unitholders
Benefits of Proposed Performance Fee Supplement to Unitholders Proposed differentiation of DPU to determine Performance Fee will : (i) Ensure the Manager will only be entitled to a performance fee if DPU from normal operations (rental of properties) grows (ii) Ensure the Manager’s performance fee is
Slide 7: Q&A
Q&A Managed by Ascendas Funds Management (S) Ltd.. 59
Slide 8: Resolution 1 (Extraordinary Resolution)
Resolution 1 (Extraordinary Resolution) Extraordinary Business Proposed Performance Fee Supplement to the Trust Deed Managed by Ascendas Funds Management (S) Ltd.. 60
Slide 9: Thank you / Important Notice
Thank you Important Notice This presentation has been prepared by Ascendas Funds Management (S) Limited as Manager for Ascendas Real Estate Investment Trust. The details in this presentation provide general information only. It is not intended as investment or financial advice and must not be relied
Slide 10: Annual General Meeting & Extraordinary General Meeting 28 June 2011
Business & Light Industrial Warehouse Science Park Retail Facilities Logistics and Hi-Tech Industrial Distribution Annual General Meeting & Extraordinary General Meeting 28 June 2011 Managed by Ascendas Funds Management (S) Ltd.. 62
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